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Negative investor sentiments in the wake of Geneva worries

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By Hiran H.Senewiratne 

CSE activities were sluggish throughout yesterday following negative investor sentiments that surfaced with  the  commencing of  the 46th sessions of the United Nations Human Rights Council (UNHRC)  in Geneva, Switzerland. It is said that a  resolution on Sri Lanka is expected to be taken up soon which is not favourable to Sri Lanka.

Further, two reports by  Standard Chartered Bank and Barclays Bank UK raising concerns on Sri Lanka pertaining to debt repayment capacity and declining foreign reserves to a  considerably low  position have negatively impacted investor sentiment, stock market analysts said. 

Amid those developments, the stock market indicated negative sentiments because both indices moved downwards. The All Share Price Index went down by 200 points and S and P SL20 declined by 66 points. The turnover stood at Rs. 2.35 billion with two crossings.

 Those crossings were reported in  CIC, which crossed one million shares to the tune of Rs. 63 million, its shares trading at Rs. 63, Commercial Bank 613,000 shares crossed for Rs. 55.1 million, its shares fetched Rs. 90 and Royal Ceramic 100,000 shares crossed for Rs. 32.2 million, its shares traded at Rs. 322.

In the retail market, top five companies that mainly contributed to the turnover were, Browns Investments Rs. 526 million (87.4 million shares traded), Expolanka Rs. 219.2 million (4.9 million shares traded), LOLC Rs. 189 million (491,000 shares traded), Dipped Products Rs. 155 million (2.73 million shares traded) and Haycarb Rs. 101.3 million (927,000 shares traded). During the day, 130.4 million share volumes changed hands in 23125 transactions.      

Sri Lanka’s rupee was quoted around 194.00/196.00 to the US dollar in the spot market on Monday, while some bond yields were steady, dealers said.

The rupee last closed in one-week forward market at 195/195.75 to the dollar on Friday. In the secondary market, bond yields were steady in dull market trade, dealers said.

 

 



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Hemas Consumer strengthens portfolio with L’Oréal partnership in Sri Lanka

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Hemas Consumer, the leading manufacturer and distributor in Sri Lanka’s beauty and personal care sector has strengthened its portfolio of offerings in a groundbreaking partnership with the world’s number one beauty company, L’Oréal. With this partnership Hemas Consumer obtains distributor rights to leverage its sales network and innovative marketing approaches in taking L’Oréal’s wide range of beauty and personal care brands across Sri Lanka.

Commenting on the new partnership, Sriyan de Silva Wijeyeratne, Managing Director, Hemas Consumer & Executive Director Hemas Group said, “We have spent over fifty years building successful and strong consumer brands in Sri Lanka. In keeping with our promise of consumer delight and trust, we are elated to partner a world-class cosmetics group like L’Oréal expanding our existing portfolio with the world’s most sought-after beauty and personal care products.

We are well equipped in our distribution process with island-wide sales channels to serve all parts of the country. I believe this partnership will revolutionize Sri Lanka’s beauty care industry and more prospects await as we continue to look ahead with L’Oréal.”

Sabrina Esufally, Director Business Development and Innovation at Hemas Consumer said, “This partnership will enable Sri Lankans to access the iconic brands and solutions created through years of research and innovation by L’Oréal. In the fast evolving and dynamic beauty industry, the combined strength of Hemas’s local heritage and penetration, and L’Oréal’s global technology and trust is the perfect recipe for consumer delight.”

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DFCC Bank supports industrial excellence by partnering CNCI Achiever Awards

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DFCC Bank PLC, stepped up once again for the 3rd consecutive year to partner with the Ceylon National Chamber of Industries (CNCI) as the principal sponsor and official banking partner of the CNCI Achiever Awards 2020.

The CNCI Achiever Awards was held for the 19th consecutive time to recognize the outstanding efforts of exceptional performers who have molded their respective industries with innovative solutions, while overcoming challenges and meeting the demands of their clientele. This year, the event was recently held under strict health guidelines at the Galadari Hotel in Colombo. 

Commenting on the sponsorship, Chief Executive Officer of DFCC Bank PLC Lakshman Silva stated, “We are pleased to have partnered with the Ceylon National Chamber of Industries (CNCI), as the Main Sponsor and Official Banking Partner of the 19th CNCI Achiever Awards 2020. DFCC is honored to partner in reconciling successful Sri Lankan businesses from various industrial sectors. Our partnership with this prestigious awards programme aligns seamlessly with our commitment to foster and reward industrial growth across the country and support local entrepreneurs in MSME & SME sectors.”

 

 

 

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Lanka SSL triumphs with National Gold and Top Ten Awards

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CNCI Achiever Awards 2020

Lanka Special Steel Limited (Lanka SSL), a trusted name in wires and a fully-owned subsidiary of E B Creasy & Company PLC, was recently awarded the coveted National Gold Award under the Extra Large category in the Manufacturing Sector at the Achiever Awards 2020 for Industrial Excellence.

The annual event organized by the Ceylon National Chamber of Industries (CNCI) was held in March 2021 at Colombo, and celebrated some of the leading industrialists in the country for their tremendous and continued efforts in uplifting and promoting quality standards, productivity, growth and strategy, R&D, employee welfare and others whilst contributing to both the society and economy at large.

‘We are immensely proud to have been recognized with two very prominent awards at this year’s CNCI Achiever Awards. It is a huge leap from just winning a Merit Award the last time around, and this incredible achievement certainly reflects our highly ambitious plans to strive for continued excellence. We would like to thank our valued customers and all stakeholders. We are grateful to our hardworking and committed staff at Lanka SSL who have made this possible,’ said Pravin De Silva, CEO of Lanka SSL.

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